Regulatory Alerts2022-09-23 | DOF 5665337Added · Updated
Authorization for the Organization and Operation of Peibo Fintech, S.A.P.I. de C.V., Electronic Payment Funds Institution
The National Banking and Securities Commission authorizes Peibo Fintech, S.A.P.I. de C.V. to organize and operate as an Electronic Payment Funds Institution. The entity is permitted to conduct activities defined in Article 22 of the Law for the Regulation of Financial Technology Institutions, with an initial social capital of 11,000,000.00 Mexican pesos. The authorization is intransmissible and subjects the institution to the supervision of the Commission and the Bank of Mexico, requiring compliance with specific operational requirements at least thirty business days prior to the start of operations.